The grand festive season of Christmas is upon us. In the USA, it is the time to rejoice with family and friends. It is that time of the year when you throw dinner parties and lavish get-togethers for your near and dear ones, give out gifts to all especially the young ones (that you stack around the Christmas tree on Christmas Eve), to be opened on Christmas mornings or go on a shopping spree. It is not just Christmas, the holiday season and time for gifts, parties, and lavish get-togethers extend by another week into the new year just 7 days later.
Don’t let your weak finances ruin this holiday season
But this kind of multiple parties and arranging for gifts is surely expected to burn a hole in your pocket if you are not well prepared. It will make you sweat even in the cold winters, as you realize your Christmas celebrations have left you financially weak.
As such it is best to plan your Christmas celebrations properly and to stop your budget from going awry. Make sure that no matter what, you don’t break the rules and organize your budget for Christmas festivities by abiding by those rules.
10 Rules to abide by for the best Christmas
- Size up your income with cash in hand or bank before Christmas festivities begin.
- List out your expenses, and put a lid on them to the absolute essentials only.
- Plan out your expenses for every event during Christmas festivities and after allocating funds for each, strictly stick to that; be it for parties, gifts, food, drinks, decorations, and shopping.
- Keep a small corpus fund tucked away somewhere and touch that only in case of dire needs.
- Go for homemade, prepare food and sweets at home.
- Make Christmas tree decorations, cards, gifts, and other decorative items at home, by buying paper, gum, adhesive tape, rolls, and colors from the local thrift store.
- Put a price limit on gifts you buy for your family and friends.
- Prepare gift wraps and decorations at home with family in tow, it will give another reason to boost togetherness. It will also allow you to personalize the gifts as per occasions and individuals.
- Track your spending to the last dollar.
- Don’t waste anything, if anything is left extra save it for next year’s Christmas, just in case.
Plan a budget-friendly Christmas celebration for Kids
Christmas is a season for giving, especially for children who expect bagfuls of gifts and treats. If you are on a tight budget, make sure you let them know of your predicament, and help them manage their expectations.
If your children know beforehand that your finances are a little tight this year, and they may not get the expensive Christmas gift they wanted this year, it will help calm things down at home. If the kids are sensible, they are more than likely to enjoy the items they still get to lay their hands on, rather than being disappointed at being denied later.
But still, kids are kids, spend as much time with them this Christmas season. Take them out for gatherings, parks, and festivals; and as parents boost your bonding with them by watching Christmas lights, and fireworks. However, to expect them not to crave gifts is unfair; so, sit with them to prepare a list.
List the items they can do without; and the items they can’t do without. Out of the items they can’t do without, ask them to select one essential item. Once the kids pick one item, keep it in the back of your mind.
Thereafter, you need to plan all your Christmas expenditure and ensure that all festivities-related expenses are as per the budgetary list prepared beforehand. It will help you keep a track of how much money you have managed to save, ultimately by Christmas Eve.
If you have saved enough, then go ahead and buy your kids the one gift they wanted. If you fall a bit short on buying that particular gift, use the small corpus fund fully or partially that you had earlier tucked away for an emergency, and in a last-minute shopping dash goes to the local store and buy your kids a PlayStation 5, smartphone, laptop, iPad, or any other item they so eagerly wanted.
Tips to save money for a budget-friendly Christmas
This year Christmas like all the years is about how well you celebrate it with gifts, do parties and get together. But if you are on a tight budget, follow these tips for an enjoyable Christmas experience.
- Buy goods online, and look for the items’ available with maximum discount. Try cashback offers and gifts.
- While shopping at the store, use your discount coupon card, loyalty card, and gift card.
- Try to buy all the essential items this Christmas from your favorite bargain store.
- Look for second-hand items online or from a local store that can be bought for half the price. Of course, the item needs to be in a usable condition for a long time.
- Clean up your house before Christmas, by selling off old items, clothes, utensils, beds, or any item that you don’t feel the need for anymore.
- Create a corpus fund from the money earned by selling the old items and tuck it away for emergency use later.
- Cut down on your energy consumption bills by using fewer lighting systems.
If you are still in need of cash as you can’t shore up your finances, then do get in touch with us for a guaranteed Christmas loan that will help you tide over your cash shortage.
Apply for Christmas loans from Cash America Today, and get instantly approved loans with no credit checks for up to $ 1000 in just 30 minutes. Do remember that no two days are the same. If this Christmas was tight for you money wise, next year doesn’t need to be the same. So, after this year’s Christmas is over, start planning for next year’s Christmas. 😊